Method and system for transferring money in business-to-business internet transactions

• US 7,937,322 B2
• Filed: 04/06/2009
• Issued: 05/03/2011
• Est. Priority Date: 05/12/2000
• Status: Expired due to Term

• Current Assignee: Western Union
• Original Assignee: Western Union
• Inventors: Anuszewkski, William E., Portillo, Humberto C.
• Primary Examiner(s): Hamilton; Lalita M
• Application Number:
  US12/419,003
• Publication Number:
  US 20090198616A1
• Time in Patent Office: 757 Days
• Field of Search: 705/35, 705/39, 705/40
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

A method for enabling two businesses to complete a transaction that includes payment from one business (the buyer) to another business (the seller). A payment enabler operates the money transfer service over a computer network of nodes, such as the Internet. Typically, the buyer and the seller use the money transfer service of the payment enabler to consummate a transaction that they have arranged over the computer network through a business-to-business transaction facilitator that enables businesses to arrange deals over the computer network. During registration with the payment enabler, a buyer typically provides information about a bank account from which the seller will be paid, and the seller typically provides information about a bank account for receiving the funds from the buyer. The payment enabler facilitates payments for transactions between businesses by enabling the employees of a business registered with the payment enabler to direct the various phases of the payment process on behalf of the business for which those employees work. A super user employee, identified by the business during registration with the payment enabler, has the power to register other employees of the business with the payment enabler and to specify the privileges that the payment enabler should grant each employee to act on behalf of the business.

Claims

1. A computer-implemented method for providing a business-to-business payment service through a payment enabler computer server independent of the businesses involved in a transaction, comprising:

receiving and storing, in at least one database registration associated with a payment enabler computer server independent of businesses involved in a transaction, information corresponding to a transaction privilege assigned to an authorized person associated with a first business;

receiving at the payment enabler server notification of an amount owed from the first business to a second business per an agreed upon transaction;

verifying by the payment enabler server that a first employee of the first business is an authorized person associated with the first business who has been granted a privilege on behalf of the first business by reference to registration information stored in the at least one database;

receiving at the payment enabler server from a remote computer of the first employee of the first business a command to pay the second business the amount owed;

in response to receipt of the command to pay the second business from the first employee verified in the verifying step, ordering a first transfer of the amount owed from a bank account of the first business into an intermediary bank account through direct debit of the bank account of the first business; and

ordering a second transfer of the amount owed from the intermediary bank account to a bank account of the second business via a direct deposit into the bank account of the second business.

2. The method of claim 1, wherein receiving at the payment enabler server the notification of the amount owed from the first business to the second business per the agreed upon transaction comprises receiving the notification of the amount owed from an online transaction facilitator through which the first business and the second business have arranged the transaction.

3. The method of claim 1, wherein verifying that the first employee of the first business has been granted the privilege to authorize payment of the amount owed on behalf of the first business comprises:

receiving from a remote super user employee of the first business a command to grant the first employee a privilege to authorize payments up to a specified limit on behalf of the first business;

storing in the at least one database a record that indicates that the first employee has been granted the privilege to authorize payments up to the specified limit on behalf of the first business;

finding the record in the at least one database; and

determining that the amount owed is not greater than the specified limit.

4. The method of claim 1, further comprising enabling a super user employee of the first business to register other employees of the first business to interact with the payment enabler server on behalf of the first business and to specify privileges that the payment enabler server should grant each of the other employees to act on behalf of the first business.

5. The method of claim 1, wherein the privilege includes at least one of:

(a) a privilege to authorize payment owed on behalf of the first business, (b) a privilege to authorize payment on behalf of the first business up to a specified limit, (c) a privilege to provide the payment enabler server with transactions details, (d) a privilege to confirm the transaction details without binding the first business to complete payment using the payment enabler server, or (e) a privilege to inquire about a transaction status.

6. A computer-implemented method for effecting a payment from a buyer to a seller in connection with a transaction utilizing a payment enabling system, comprising:

(1) prior to a specific transaction between the buyer and the seller, effecting a registration process via a payment enabler server independent of businesses involved in a transaction, comprising;

receiving buyer registration information input via a buyer computer and communicated to the payment enabler server via a data communications network, the buyer registration information including identification information corresponding to a buyer authorized person, buyer transaction privilege information corresponding to transaction privileges granted to the buyer authorized person, and buyer account information identifying a buyer account associated with a buyer financial institution from which a payment from the buyer will be drawn; and

(2) subsequent to the foregoing registration process, effecting a payment from the buyer to the seller with a payment process via the payment enabler server, comprising;

receiving transaction details information corresponding to a proposed transaction between the buyer and the seller involving a particular transaction amount;

receiving transaction information input by a person purporting to act on behalf of the buyer;

retrieving buyer transaction privilege information from at least one database to determine whether the person purporting to act on behalf of the buyer is a buyer authorized person possessing transaction privileges to act on behalf of the buyer;

in response to a determination that the person purporting to act on behalf of the buyer is a buyer authorized person having proper privileges, receiving payment authorization information from the buyer authorized person;

in response to the payment authorization information input by the buyer authorized person, effecting a debit to the buyer account in an amount corresponding to at least the transaction amount and depositing the amount into a second account; and

effecting a transfer of funds from the second account to the seller account.

7. The method of claim 6, wherein the transaction privileges granted to the buyer authorized person include at least one of:

(a) inquiring about the status of a transaction, (b) informing the payment enabler server about transaction details, (c) confirming the correctness of transaction details, (d) authorizing payment, or (e) authorizing payment up to a specified limit.

8. The method of claim 6, wherein the buyer registration information is input by a buyer representative, and wherein the buyer authorized person includes at least an identified super user employee of the buyer and at least one additional other employee of the buyer with more limited privileges than the identified super user employee.

9. The method of claim 6, further comprising determining whether the transaction amount is within a predetermined dollar limit granted to the buyer authorized person, prior to effecting the debit to the buyer account.

10. The method of claim 6, wherein at least one of the buyer registration information, the transaction details information, or the transaction information is received via a transaction facilitator operative as an intermediary for a transaction between the buyer and the seller.

11. A system for providing a business-to-business payment service through a payment enabler computer server independent of the businesses involved in a transaction, comprising:

a payment enabler computer server, independent of the businesses involved in the transaction, operative for;

receiving and storing in at least one database registration information corresponding to a transaction privilege assigned to an authorized person associated with the first business;

for receiving a notification of an amount owed from the business to the second business per an agreed upon transaction;

verifying that a first employee of the first business is an authorized person associated with the first business who has been granted a privilege on behalf of the first business by reference to registration information stored in the at least one database;

receiving from a remote computer of the first employee of the first business a command to pay the second business the amount owed;

in response to receipt of the command to pay the second business from the first employee verified in the verifying operation, ordering a first transfer of the amount owed from a bank account of the first business into an intermediary bank account through direct debit of the bank account of the first business; and

ordering a second transfer of the amount owed from the intermediary bank account to a bank account of the second business via a direct deposit into the bank account of the second business.

12. The system of claim 11, wherein receiving at the payment enabler computer server the notification of the amount owed from the first business to the second business per the agreed upon transaction comprises receiving the notification of the amount owed from an online transaction facilitator through which the first business and the second business have arranged the transaction.

13. The system of claim 11, wherein verifying that the first employee of the first business has been granted the privilege to authorize payment of the amount owed on behalf of the first business comprises:

receiving from a remote super user employee of the first business a command to grant the first employee a privilege to authorize payments up to a specified limit on behalf of the first business;

storing in the at least one database a record that indicated that the first employee has been granted the privilege to authorize payments up to the specified limit on behalf of the first business;

finding the record in the at least one database; and

determining that the amount owed is not greater than the specified limit.

14. The system of claim 11, wherein the payment enabler computer server is further operative for enabling a super user employee of the first business to register other employees of the first business to interact with the server on behalf of the first business and to specify privileges that the server should grant each of the other employees to act on behalf of the first business.

15. The system of claim 11, wherein the privilege includes at least one of:

(a) a privilege to authorize payment owed on behalf of the first business, (b) a privilege to authorize payment on behalf of the first business up to a specified limit, (c) a privilege to provide the server with transaction details, (d) a privilege to confirm the transaction details without binding the first business to complete payment using the payment enabler computer server, (e) a privilege to inquire about a transaction status.

16. A computer-implemented method in connection with a transaction utilizing a payment enabling system, comprising:

prior to a specific transaction between the buyer and the seller, effecting a registration process comprising;

at a payment enabler server, receiving buyer registration information input by a buyer representative via a buyer computer and communicated to the payment enabler server via a data communications network, the buyer registration information including identification information corresponding to an identified super user employee of the buyer and buyer account information identifying a buyer account associated with a buyer financial institution from which a payment from the buyer will be drawn;

storing the buyer registration information in at least one database associated with the payment enabler server;

at the payment enabler server, receiving additional buyer registration information input by the identified super user employee of the buyer, the additional buyer registration information including identification information corresponding to other identified employees of the buyer and buyer transaction privilege information corresponding to transaction privileges granted to such other identified employees of the buyer; and

storing the additional buyer registration information in the at least one database;

whereby for a subsequent transaction, an identified buyer employee that has been granted transaction privilege authorized by the identified super user employee of the buyer is enabled to conduct a specific transaction with the seller in accordance with transaction privileges corresponding to the buyer transaction privilege information.

17. The method of claim 16, wherein the transaction privileges granted to identified employees of the buyer include at least one of:

(a) inquiring about the status of a transaction, (b) informing the payment enabler server about transaction details, (c) confirming the correctness of transaction details, (d) authorizing payment, or (e) authorizing payment up to a specified limit.

18. The method of claim 16, further comprising investigating input buyer registration information prior to carrying out further steps of the method, wherein investigating the buyer registration information comprises verifying that the buyer representative has authority to act on behalf of the buyer or verifying the legitimacy of the buyer.

19. The method of claim 16, further comprising effecting a payment from the buyer to the seller with a payment process via the payment enabler server, comprising:

receiving transaction details information corresponding to a proposed transaction between the buyer and the seller involving a particular transaction amount;

receiving transaction information input by a person purporting to act on behalf of the buyer;

retrieving buyer transaction privilege information from the at least one database to determine whether the person purporting to act on behalf of the buyer is a buyer authorized person possessing transaction privileges proper to act on behalf of the buyer;

in response to a determination that the person purporting to act on behalf of the buyer is a buyer authorized person possessing proper privileges, receiving payment authorization information from the buyer authorized person;

in response to the payment authorization information input by the buyer authorized person, effecting a debit to the buyer account in an amount corresponding to at least the transaction amount and depositing said amount into a second account; and

effecting a transfer of funds from the second account to the seller account.

20. The method of claim 19, wherein the transaction information is input by a first person associated with the buyer, and further comprising receiving information at the payment enabler server confirming the transaction details information from a second person associated with the buyer, the second person possessing buyer transaction privilege information proper to confirm the transaction on behalf of the buyer.

21. A payment enabling system for effecting a payment from a buyer to a seller in connection with a transaction, comprising:

a payment enabler server connected for electronic communications with a seller computer and a buyer computer via a network; and

at least one database for storing buyer registration information, employee identification information including privilege information corresponding to transaction privileges assigned to employees of a buyer, buyer account information, and transaction information;

the payment enabler sever operative for;

prior to a specific transaction between the buyer and the seller, effecting a registration process comprising;

receiving buyer registration information input by a buyer representative via the buyer computer and communicated to the payment enabler server via the network, the buyer registration information including identification information corresponding to an identified super user employee of the buyer and buyer account information identifying a buyer account associated with a buyer financial institution form which a payment from the buyer will be drawn;

storing the buyer registration information in the at least one database;

receiving additional buyer registration information input by the identified super user employee of the buyer, the additional buyer registration information including identification information corresponding to other identified employees of the buyer and buyer transaction privilege information corresponding to transaction privileges granted to such other identified employees of the buyer; and

whereby for a subsequent transaction, an identified buyer employee that has been granted transaction privileges authorized by the identified super user employee of the buyer is enabled to conduct a specific transaction with the seller in accordance with transaction privileges corresponding the buyer transaction privilege information.

22. The system of claim 21, wherein the transaction privileges granted to identified employees of the buyer include at least one of:

(a) inquiring about the status of a transaction, (b) informing the payment enabler server about transaction details, (c) confirming the correctness of transaction details, (d) authorizing payment, or (e) authorizing payment up to a specified limit.

23. The system of claim 21, wherein the payment enabler server is further operative for investigating the buyer registration information prior to carrying out further steps of the method, wherein, investigating the buyer registration information comprises verifying that the buyer representative has authority to act on behalf of the buyer or verifying the legitimacy of the buyer.

24. The system of claim 21, wherein the payment enabler server is further operative for effecting a payment from the buyer to the seller with a payment process, comprising:

receiving transaction details information corresponding to a proposed transaction between the buyer and the seller involving a particular transaction amount;

receiving transaction information input by a person purporting to act on behalf of the buyer;

retrieving buyer transaction privilege information from the at least one database to determine whether a person purporting to act on behalf of the buyer is a buyer authorized person possessing transaction privileges proper to act on behalf of the buyer;

in response to a determination that the person purporting to act on behalf of the buyer is a buyer authorized person possessing proper privileges, receiving payment authorization information from the buyer authorized person;

in response to the payment authorization information input by the buyer authorized person, effecting a debit to the buyer account in an amount corresponding to at least the transaction amount and depositing the said amount into a second account; and

effecting a transfer of funds from the second account to the seller account.

25. The system of claim 24, wherein the transaction information is input by a first person associated with the buyer, and wherein the payment enabler server is further operative for receiving information confirming the transaction details information from a second person associated with the buyer, the second person possessing buyer transaction privilege information proper to confirm the transaction on behalf of the buyer.